Trade

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There’s plenty for the U.S. agricultural sector to like in the U.S.-Mexico deal announced today, but the biggest win for farmers and ranchers is the agreement to continue the arrangement of zero tariffs on farm goods between the two neighboring countries.

President Donald Trump says the U.S. and Mexico have resolved several key obstacles to a renegotiated NAFTA – with a different name – while suggesting that Canada may be left out of a final agreement.

USDA today announced details for roughly half of the long-awaited $12 billion aid package of payments and market support to help producers impacted by ongoing trade disputes with China, Mexico, the European Union, Turkey and other countries.

The USDA appears to be on track to unveil on Friday details of a $12 billion assistance plan for farmers hurt by the international blowback from President Donald Trump’s trade battles with China, Mexico, the European Union, Turkey and elsewhere.

China’s Commerce Ministry announced today it will soon be sending a trade delegation to the U.S. ahead of an escalation in tariffs, many of which are taking a toll on U.S. agriculture exports.

The USDA announced today it will be buying up to $50 million worth of fluid milk in an effort to bring financial relief to the dairy industry, which is suffering from high production and foreign trade tariffs.

USDA on Friday raised its estimate for corn and soybean production, citing record or near-record yields. Futures fell following the reports.